Douglas Lane & Associates LLC Cuts Stock Holdings in Oracle Corporation $ORCL

Key Points

• Douglas Lane & Associates LLC decreased its stake in Oracle Corporation by 3.5%, owning 533,849 shares worth approximately $116.7 million.
• Several hedge funds increased or established positions in Oracle, with ownership by institutional investors now at 42.44%.
• Oracle recently announced a quarterly dividend of $0.50 per share, reflecting a 0.7% dividend yield, set to be paid on October 23rd.

Douglas Lane & Associates LLC decreased its stake in shares of Oracle Corporation (NYSE:ORCL - Free Report) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 533,849 shares of the enterprise software provider's stock after selling 19,430 shares during the period. Oracle comprises about 1.7% of Douglas Lane & Associates LLC's holdings, making the stock its 12th largest position. Douglas Lane & Associates LLC's holdings in Oracle were worth $116,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Taylor & Morgan Wealth Management LLC purchased a new position in Oracle in the second quarter worth $239,000. TruWealth Advisors LLC boosted its position in Oracle by 14.0% in the second quarter. TruWealth Advisors LLC now owns 1,900 shares of the enterprise software provider's stock worth $415,000 after purchasing an additional 234 shares during the last quarter. RB Capital Management LLC boosted its position in Oracle by 3.5% in the second quarter. RB Capital Management LLC now owns 6,382 shares of the enterprise software provider's stock worth $1,395,000 after purchasing an additional 214 shares during the last quarter. Trinity Financial Advisors LLC purchased a new position in Oracle in the second quarter worth $270,000. Finally, Arvest Investments Inc. purchased a new position in Oracle in the second quarter worth $682,000. Hedge funds and other institutional investors own 42.44% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on ORCL shares. Royal Bank Of Canada boosted their price objective on Oracle from $145.00 to $195.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 12th. Wolfe Research boosted their price objective on Oracle from $300.00 to $400.00 and gave the stock an "outperform" rating in a research report on Wednesday. Mizuho boosted their price objective on Oracle from $300.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $240.00 target price (up from $200.00) on shares of Oracle in a research note on Thursday, June 12th. Finally, TD Cowen boosted their target price on Oracle from $325.00 to $375.00 and gave the company a "buy" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Oracle presently has a consensus rating of "Moderate Buy" and an average price target of $296.84.

Oracle Stock Performance

Shares of ORCL opened at $292.07 on Friday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.62 and a quick ratio of 0.75. Oracle Corporation has a 1 year low of $118.86 and a 1 year high of $345.72. The firm has a market cap of $820.38 billion, a PE ratio of 67.61, a PEG ratio of 4.10 and a beta of 1.46. The stock's fifty day moving average price is $244.69 and its two-hundred day moving average price is $190.50.

Oracle (NYSE:ORCL - Get Free Report) last released its quarterly earnings data on Wednesday, June 11th. The enterprise software provider reported $1.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.06. Oracle had a return on equity of 72.93% and a net margin of 21.08%.The company had revenue of $15.90 billion for the quarter, compared to analyst estimates of $15.58 billion. During the same period in the previous year, the company posted $1.63 EPS. The firm's revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Oracle Corporation will post 5 EPS for the current year.

Oracle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 23rd. Investors of record on Thursday, October 9th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, October 9th. Oracle's payout ratio is presently 46.30%.

Insider Activity at Oracle

In related news, EVP Maria Smith sold 10,000 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $232.99, for a total transaction of $2,329,900.00. Following the sale, the executive vice president directly owned 40,807 shares in the company, valued at approximately $9,507,622.93. The trade was a 19.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Naomi O. Seligman sold 3,303 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $233.32, for a total value of $770,655.96. Following the sale, the director owned 31,447 shares in the company, valued at approximately $7,337,214.04. The trade was a 9.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,183 shares of company stock worth $10,353,198 in the last 90 days. 42.20% of the stock is owned by company insiders.

Oracle Profile

Oracle Corporation offers products and services that address enterprise information technology environments worldwide. Its Oracle cloud software as a service offering include various cloud software applications, including Oracle Fusion cloud enterprise resource planning (ERP), Oracle Fusion cloud enterprise performance management, Oracle Fusion cloud supply chain and manufacturing management, Oracle Fusion cloud human capital management, Oracle Cerner healthcare, Oracle Advertising, and NetSuite applications suite, as well as Oracle Fusion Sales, Service, and Marketing.

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